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All Forum Posts by: Justin Gottuso

Justin Gottuso has started 18 posts and replied 182 times.

Post: What are the Steps to Owning 300 Units?

Justin Gottuso
Pro Member
Posted
  • Rental Property Investor
  • Columbus, OH
  • Posts 184
  • Votes 162

@Logan Allec

Are you also a psychologist on the side? Haha you have a way of understanding what people are (really) saying :-)

Post: Expected Cash-on-Cash Return in Columbus

Justin Gottuso
Pro Member
Posted
  • Rental Property Investor
  • Columbus, OH
  • Posts 184
  • Votes 162

@Jeff Sironi cool. I recently read Delaware is one of the fastest growing parts of Ohio and is expected to double in population in the next 5 or 10 years. Popular place hehe. I explored what I believe is Delaware county a bit today. Went to Alum Creek State Park and Sunbury to see the area where Planet Oasis/Acadia will be built. How is it in Delaware? Do you only work in DC or also wrk remote at home or an office in Columbus?

Post: New Investor looking to build a Columbus REI Network

Justin Gottuso
Pro Member
Posted
  • Rental Property Investor
  • Columbus, OH
  • Posts 184
  • Votes 162

@Luke Soroka

Hey Luke :-)

How old are your kids and what do you do for wrk? I just moved to Columbus myself. Wife and family are following in 6 months.

Post: What would you do with $300,000 cash?

Justin Gottuso
Pro Member
Posted
  • Rental Property Investor
  • Columbus, OH
  • Posts 184
  • Votes 162

@Bob Prisco

Thanks! Simple and from what I've read, a great way to become successful in REI. In LA caps are 2-3% mostly so I'm glad to be in Columbus Ohio/Midwest now where 10% is achievable. I look forward t visiting Cleveland sometime too!

Post: What would you do with $300,000 cash?

Justin Gottuso
Pro Member
Posted
  • Rental Property Investor
  • Columbus, OH
  • Posts 184
  • Votes 162

@Philippe Schulligen

Thank you for the link to your article. The chart was helpful to see how commercial properties out perform other investments. I also read your one on the step by step updates to investors which was helpful in seeing the process works on acquisition. Do you know of any statistics on how often syndicated deals actually perform over time? Promises of doubling your investment in 5 years/15-20% returns seems too good to be true, yet also worth researching more.

I think the economies of scale of multi family and not having a single vacancy or repair eat up all profits in a year are very good reasons to go with larger multi family units. I’m interested in doing this in Columbus/Central Ohio ideally.

What did you do before your first syndicated deals? And what experiences and knowledge are essential to being successful as a Sponsor of a syndicate? What do you recommend investors look for in a syndicated opportunity and what to avoid/bad signs? Thanks!

Post: How to sell a unique property (ADU duplex in Los Angeles)

Justin Gottuso
Pro Member
Posted
  • Rental Property Investor
  • Columbus, OH
  • Posts 184
  • Votes 162

@Luis Lopez Valencia thanks for your piggyback post about your current ADU project. Pioneers/people doing new things aren't always rewarded for their efforts in the short term. Yes, your property will be the comp for others.

I think what this new ADU house market will do is highlight and organize a new niche of buyers, people who are interested in house hacking and saving money per month on their mortgage payments and get into a duplex/investment property. That's the buyer we originally had before his funding Del through.

I’m curious about that appraisers meeting in Sacramento. What group is organizing it/sponsoring it? Any details about it you can share?

@Dan Heuschele and @aaro thanks for your comments! Yea when I ran the numbers on my property the costs per month are higher than the mortgage so it doesn't make as much sense for an investor to buy it, unless for the appreciation over time as more of these ADU properties are built and sold as as demand for housing only increases in LA/california over time. That being said, it definitely makes sense for an individual, single family or multi generational/extended family. My property for instance, to buy just the 3/1 front house as is would be over 900k. Then for 1.35m you get an additional, BRAND NEW, 3/2.5 house. No where can you get two houses with 3 bedrooms for that price in west Los Angeles. The mortgage for the 3/1 alone would be almost 5k per month but for about 7k per month you get two. Rent the front for 3.5k-4K per mon and live in the brand new one for 3-3.5k per month since the renters are paying front house plus utilities.

Post: How to sell a unique property (ADU duplex in Los Angeles)

Justin Gottuso
Pro Member
Posted
  • Rental Property Investor
  • Columbus, OH
  • Posts 184
  • Votes 162

@Fay Chen

Thanks for sharing :-) Clearly you see value in each experience and the lessons they offer. I hadn’t heard the term ‘fat FIRE’ before, but always good to learn the acronyms and phrases used. Financial Independence Real Estate? What does the ‘fat’ stand for?

Have you used lenders/financing only or cash for your rentals? Do you only invest in Los Angeles or outside California as well? Did you guys save up funds to start investing? My wife and I also have food and stable W2 jobs and are just starting to save. The sale of our LA ADU property will hopefully give us a jump start on investing.

Post: What would you do with $300,000 cash?

Justin Gottuso
Pro Member
Posted
  • Rental Property Investor
  • Columbus, OH
  • Posts 184
  • Votes 162

@Ryan Proffit

Thanks!

Post: What would you do with $300,000 cash?

Justin Gottuso
Pro Member
Posted
  • Rental Property Investor
  • Columbus, OH
  • Posts 184
  • Votes 162

@Michelle Coffee

Cool! Do you have a home base abroad or are you traveling to different places?

I also love the idea of providing affordable housing and a strong community

Post: What would you do with $300,000 cash?

Justin Gottuso
Pro Member
Posted
  • Rental Property Investor
  • Columbus, OH
  • Posts 184
  • Votes 162

@Michelle Coffee cool!! 😎 where do you want to have the tiny house village?